In our last post Boone Homes exposed two very important demands in establishing the fair market value of the Richmond custom homes that you own or are looking to purchase. As a matter of review, we discussed how it was imperative to compare your homes to similar homes in a like geographic setting. Today we will expose the last two demands.
Demand number three: Fair market demands a home that is for sale should be compared to other recent sales: An indication of where the housing market has been is in the history of recent sales. Homes that have sold in the last 90 days will carry more value and sway than homes that have sold in the 12 months. The picture of the last 12 months will give you an indication of where the housing market is headed, but it will still only speak of history. For example, in most areas of Richmond the market has been declining, revealing a buyer’s market. Recently, the metrics for these same neighborhoods have been revisited to show moderate increases. Though we are far from a seller’s market, the data seems to indicate that prices have stabilized or are on the rise.
A comparative market analysis to determine the fair market value of new homes in Richmond is a science though lately it may feel like an art. Volatile times and rapidly adjusting prices can cast a mysterious aura over the pricing process, but in reality a market analysis is very simple. To remove the mystery, Boone Homes will expose four basic demands of fair market value.
Demand number one: Fair market pricing demands a home be compared to other similar homes. When comparing homes to other homes it does not simply mean comparing homes with four walls and a roof acting as shelter with other homes that fit the same criteria. A true market analysis must take into account the age, condition, features in the home, construction styles and size of the home site. In simpler terms, a one-level home cannot be compared accurately to homes with a second story nor can homes with first-floor owner’s suite be accurately compared with homes that have the traditional second-floor owner’s suite. Comparisons of mismatched homes will not accurately represent a home’s value. Comparisons to foreclosures or distressed properties will not give a true reflection on a home’s market value unless the predominant inventory in the neighborhood is distressed.
If you’ve been waiting to purchase one of our new homes in Richmond at Haywood Village at Charter Colony, time is running out. We recently sold the community’s model home and now only three homes and one lot remains at this luxury community in Chesterfield County.
Two of our standing inventory homes feature The Dovercroft design. These homes are perfect for buyers who don’t want to wait on new home construction. This floor plan offers everything you need for entertaining family and friends this holiday season including 3,049 square feet, five bedrooms, 3.5 bathrooms, formal living and dining rooms and a gourmet kitchen with large pantry and kitchen island. It even boasts a spacious owners’ suite with retreat, his and hers walk-in closets, tub and separate shower for when you need to relax after your guests leave.
Each fall Richmond home builders, like Richmond custom home builder Boone Homes, as well as those all across the nation organize a showcase of homes and open the homes up for the public. For three weekends, potential homeowners can tour these homes and dream of building a new home. These homes are designed meticulously and accessorized to entice you into fulfilling your dream of building a new home. Many of the homes in the Parade will be fitted with latest energy saving features and design trends. If you are considering building a home in the future, the Parade of Homes is certainly a good event to attend.
Offering closing bonuses to entice people to sell or buy new homes in Richmond is not a new thing. Many bonuses take the form of gift cards, credits or as lively as beer. Yup, you heard me right, beer. Recently one seller in Chicago, as reported by Tara Steele on AgentGenius.com, decided that a fraternity-style appeal would be necessary to sell her home which prompted her to offer a $1,000 beer bonus at a local bar for the lucky purchaser to enjoy after closing. Do you really need that much beer to make the deal look good? What would the implications of this frat-style offer be?
Boone Homes, a Richmond custom home builder, does not need to include thousands of dollars of libations in order for you to know you received a great home at a fair price. Each Boone Home is crafted with care from the conceptual thought, through production and settlement. Furthermore, each new home is monitored by a warranty and service team with predetermined and scheduled service at 60 days and at the 11 month mark so you don’t have drink to forget a poor choice.
Richmond custom home builder Boone Homes would like to ask: Have you ever felt caught? You know, the feeling of hopeless anger touching the last nerve of patience and mushrooming into a cloud of despair? Usually that happens during one of two times. One, when someone has manipulated events to gain the upper hand; or two, when our thinking was less than critical and we left irrelevant information out that should have been considered. The second trap is the most dangerous of all because we convince or reason our minds into what an answer should be without considering crucial angles. As a new home professional working with Boone Homes, I see this quite often. Let me explain.
Many who are on the hunt for a home these days are surrounded by exceptional opportunities in real estate. The Richmond real estate market is no different and is equally laden with used homes and plenty of opportunity. The challenge with these opportunities lies in while they may fit the budget and portray a tremendous opportunity they don’t address a hidden trap. The trap of what the future holds. This trap has many consequences; we will only discuss two today.
School is in full session, the kids have left their new homes in Richmond (at least for the day) to learn all that they can and vacation is now in the records of history. The future holds a variety of tests, quizzes and volumes of literature to be consumed. Learning takes time, effort and dedicated preparation. Good grades are not a mystery. Excellence does not happen by chance. A great student excels because of planned and executed effort.
At Boone Homes, we are committed to building homes with planned excellence and distinction. Our research into building technology guides our application and completely ensures each home will be built following the best practices within the industry. Every home built is meticulously crafted with dedicated and scientific effort. We start the process with a well-designed floor plan and intricate architecture which is then built with intention and care. Couple a studious design with care and an Energy Star qualified package and you will find intentional excellence. Excellence does not happen by chance.
How much thought do you put into looking for, researching and planning the purchase of your new home in Richmond? Is it as much as you would for, say, your wedding day? What value is there in having your way?
The bride wants the wedding her way so she is willing to dole out significant levels of cash for the right atmosphere, location and restaurant. The food is carefully selected down to the very last appetizer and cake decoration. Every little detail is planned down to who will be in which pictures, what will be said and when it will be said. The icing on the cake is selected from a number of options so that the fairy tale day will correctly fold into the annals of history. Why is one day in life given so much attention while other details, with identical consequences, seem to only marginally arouse interest? Do you give this much attention to detail in other aspects of your life?
We make decisions every day: Simple decisions like, what will make for lunch in the kitchens of our Richmond maintenance free homes, or what is the best time to call my mom? The cumulative effect of these decisions is who we are today. Some decisions were obviously good in hind sight. Others, well, we can laugh off as indiscretions.
Very few repercussions effervesce from the simple decisions, but what about other bigger decisions like:
1. How will I handle aging?
2. How long will I be able to be independent?
What is your best investment? Think, but don’t think stocks, bonds or IPO. Think bigger. What do you have more of yesterday than today?
Time goes by and never comes back. Investments may appreciate with time, but time depreciates over time. What would make time more valuable? The law of supply and demand would probably apply to this resource as well. The less time you have the more valuable it becomes. There are plenty of chores that need to be done: balance the check book, maintain the cars, visit family, work a job, organize holiday parties and visit the beach. Which begs a question: why waste time on maintaining a yard of your new home in Richmond?
Swirling trees, gale force winds and driving rain can be a combination for destruction. New homes in Richmond within reach of a hurricane feel the wrath and fury of the storm. The saturating rain softens the ground causing trees to tip over destroying all within reach, including power lines. Being without power while camping for a weekend may be exciting, but it’s not as exciting when you’re living in your own home without power. Many times the absence of power can even stop the flow of water. Rustic camping is one thing, rustic camping in your own home is another.
For this reason, many of Boone Homes’ customers decide to add a generator switch to their home during the construction phase. These generators can be portable generators that are hooked up to the switch once power is lost or a whole house generator with a separate circuit breaker and powered by the natural gas.
Shake, Rattle and Roll took the Central Virginia area by surprise this past week. The ground quaked and shook with an earthquake and several after-shocks. The magnitude of the quake ended up around 5.9 with aftershocks in the 4s. Though this is no longer news, and certainly doesn’t match the quakes that happen on the West Coast, the damage left behind was not visible in neighborhoods where Boone Homes, a quality Richmond custom home builder, has built or is building. Why is this important?
Boone Homes builds quality homes. This statement is not just a motto, but a way of life. No one on the Boone Homes team is willing to let any detail slide. Structurally, our architects work hand-in-hand with our engineers to ensure the home is built, not to the bare minimum standards of code, but well above code. All of our new homes in Richmond are then built to ensure a lifetime of enjoyment.
Location, location, location. When looking for new homes in Richmond, it’s all about location. But what makes the location so valuable? Is it valuable just because some pundit or real estate professional said so? What happens in a down market? How do you define the virtue of a location? Here are few common sense considerations when mulling over someone’s suggestion to purchase prime Richmond real estate.
1. Proximity to supplies: How far are you from a grocery store? Most people don’t have the time necessary to farm all their own food. Picking up fresh apples at the store is much more convenient than competing with wild life to pick apples off the tree in your back yard. Plus, you can get apples around the clock at a grocery store versus off a tree.
“Stop searching forever, happiness is next to you.” ~ Fortune Cookie
Do the pithy sayings from a fortune cookie really guide the actions of your life? Do you suddenly feel inspired to pursue the happiness waiting in our new homes in Richmond? No one would make large decisions based on the simple and vague message in a fortune cookie. It just seems ludicrous. Or does it?
In today’s real estate market, many buyers are using similar methods in searching for homes. Some remain on the housing sidelines awaiting the deal of the century because they once heard that someone got a home for an unbelievable price. The search is prolonged because of a vague message. What if the home of your dreams was sitting right next to you all the time?
Just like any other investment, new homes in Richmond have a rate of return. What is your home’s rate of return? You know, kind of like an investment returning more than just expenses. Does your home have a rate of return? What does that return look like? Does the return look like a mortgage payment, utility payment or memories? What if I told you that we have increased the rate of return on a new home?
Let me explain. We’ve been working to improve the energy efficiency of our new homes. In a recent new home built with Energy Star features, we found that the cooling bill for the month of June was only $91 for 3,100 square feet. This proved to be a 40% plus difference from what a used home would be paying. The rate of return was significantly increased.
Back to school sales mark the beginning of the dog days of summer. Preparations for the last minute vacations are squeezed into schedules with the notion that school is coming. The lunch boxes are peeking out of storage reminding us of the inevitable routine awaiting us – if only the kitchen were functional enough to make the routine easy. Lunch box morning routine, juice box afternoon routine or even pre-dawn coffee routines can be interrupted by a dysfunctional kitchen.
In each new home built by Boone Homes, a Richmond custom home builder, the kitchen is designed with luxurious beauty and installed with superior craftsmanship. The beauty and craftsmanship, however, do not interfere with the function. Each major work station is designed to fit well within what the industry calls the “work triangle.” This fit enables the kitchen work spaces to flow with ease away from intersecting traffic and early morning commotion. Specialty roll outs, recyclers, garbage collectors and organizational devices maximize efficiency in daily preparation, assembly and distribution of lunch boxes, meals or simply morning coffee.
This traditional home built by Richmond custom home builder Boone Homes is similar to one now ready for occupancy. There are plenty of reasons why you will want to take a look at this new home located in the Richmond community of Charter Colony.
The first-floor boasts an expansive family room with a gas log fireplace that can be turned down low for that late night show. The cozy breakfast area and designer kitchen with granite countertops augment the interior appeal of the home and provide the gathering place for the party or holiday events that are right around the corner. With all the first floor adorned with hardwood floors, there is little reason to shy away from hosting the party in the formal dining room.
Great traditions can be interrupted by the mundane. The morning’s welcoming aroma of percolating coffee prepares the mind for that leisurely morning read. The beckoning of the newspaper or e-book replace cobwebs with sunrise – until the sound of the neighbor’s mower reminds you of the need to beat the summer heat. Setting aside the great tradition of coffee and a good read is no longer necessary in Boone Homes’ Richmond maintenance free homes.
No maintenance homes enhance lifestyle, designed to relieve you of the mundane so you can experience more of life’s great traditions or design and build new traditions. No maintenance homes relieve you of the mundane need to cut, fertilize and aerate your yard, paint your home, clean your gutters and much more. How much time would be available to create memories once the mundane is removed from the routine? I’d be willing to gamble you’d take more time to memorialize life’s little moments.
Consumer confidence can be measured a variety of ways. One of the most meaningful ways to measure consumer confidence is by how many times trust is placed in the product being purchased, or brand loyalty. When considering the purchase of mustard, close pins or laundry detergent the choice costs you little and repeating the purchase involves little risk. The larger the purchase the greater the risk each person willingly takes on. Consider purchasing a pizza. What joints will you never frequent ever again? Or consider your last purchase of a car. What makes and models will you never purchase again? Risk exponentially increases with the ticket price of the item. The same is true for those who purchase new homes in Richmond.
Boone Homes, a Richmond custom home builder, is proud of a consistent track record of repeat clients. Take a look at this video and see for yourself a list of satisfied customers willing to purchase another new home from us. It seems we have the process, the warranty, the quality and the product to ensure satisfied and repeat new home buyers.
There is no greater disappointment than purchasing an extended warranty and finding out in the hour of need the warranty will not be honored. The extra monies spent wasted. The dream destroyed. Warranty is a promise. Unfulfilled warranty is a promise broken.
As a leading Richmond custom home builder, we believe in honoring our promises. Each home built is accompanied by a 1/2/5 warranty that is not vague, but well defined in writing and a copy is given to each homeowner. Unlike the warranty from others where you have to raise the issue if something goes wrong, we will contact you first.